AndyO Blog

Monday, September 29, 2008

The sky is falling (on Wall Street)

Well, the bailout package didn't pass the House of Representatives today. Everyone thought it was going to pass. And this is what it did to Wall Street:

Picture of Wall Street numbers - Sept 29, 2009

I guess -777.68 is the third-biggest decline since World War II, and the worst decline in two decades. However this decline is the worst "one day point drop ever for the index," which wiped out $1.2 trillion in market value. On Black Monday, October 19, 1987, the market lost 20% (508 points), which was a stock market crash.

So, I guess we could say that it could have been worse.

We'll see what happens.

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posted by AndyO @ 8:22 PM   0 comments links to this post